Economics

Economics courses in the UK, close to where many of its theories have their roots, can benefit any international student. The UK is home to some of the world’s biggest banks and accounting firms, and graduates in economics have a wide range of career options after graduation. Students will gain knowledge and skills in problem-solving, data analysis, computers, and written and oral presentations—all highly valued and in demand in the current job market. Because English is the language of international finance, studying economics courses in the UK will assist you in the future.

Why Studying Economics in the UK?

Enormous subject, economics. You will learn so many multidisciplinary skills from it that hiring managers will find you appealing for any position, regardless of industry. The 96% of graduates who are employed or enrolled in more education can anticipate making about £26,000 in their first position. Many degrees allow students to spend a placement year in industry, sometimes abroad, because business forms the foundation of economics because it is so closely tied to the rest of the world. Governments, banks, and multinational corporations are very attracted to this experience.

Some modules you might take include:

• Economic planning
• Legal research
• Banking and money
• Global financial
• Economic background
• Trading internationally
• Collective judgments
• Econometrics

An economist must thoroughly understand how diverse topics relate to one another and is the most apparent professional choice. Economists are employed to advise on the effects of changes in various areas, including healthcare, education, business, energy, law, and the environment. They serve as both consultants and researchers.

Bachelor of Economics in the UK

International students will receive the necessary training to succeed in economics with an undergraduate economics course in the UK.
Undergraduate economics programmes typically take three years, while there are many opportunities for internships and work placements, so four-year programmes are not unheard of.

Key economic theories will be covered in the subject’s introductory instruction, and for most programmes, no prior knowledge of economics is usually necessary to apply.

Many economics programmes in the UK also offer dual honors degrees, which allow you to study additional topics in addition to economics, such as business, geography, or math.

Masters for Economics in the UK

Students who pursue a master’s degree in economics will receive comprehensive instruction in advanced economic ideas and methods. Through case studies that apply economic theory to the actual world, policy analysis, quantitative modeling, and data analytics will be used to explain concepts and ideas to you. A postgraduate economics programme at a UK university will give you the ideal platform to specialise in a field of particular interest as you prepare for your future profession.

Entry Requirements for Economics in the UK

• 36 points are the typical International Baccalaureate requirements.
• AAA, including mathematics, is the typical A-level requirement.
• IELTS standard standards are 6.5 overall, with no component being lower than 6.0.

Career and salary range for Economics in the UK

The UK has had a significant influence on the way that modern economics is taught and practiced around the world. There is no better place to start your higher education and launch your career if you want to grasp how and why money keeps the globe turning.
Graduates of economics programmes can find employment as banking and financial consultants in the private sector. In contrast, in the public sector, they can find employment with bureaus of statistics, national treasuries, central banks, and government agencies. There are also job openings in the manufacturing, transportation, communication, insurance, nonprofit, investment, and retail sectors.

• Average first-year income for professionals: £27,000
• Average non-professional starting salary: £18,000

The Best Universities for Economics in the UK

Economics has long been a popular major worldwide because of the practicality and relevance of its ideas and principles. Consequently, it’s unsurprising to find economics taught in various formats across the country’s top-ranked universities.
Given that there are over a hundred, we’ve done the legwork for you and compiled a list of the top economics courses at UK universities.

University of Leeds

The Best Universities for Economics in the UK The university offer economics courses and consistently ranks among the world’s best. The University of Leeds, for instance, provides the standard BSc Economics degree.
There are almost 30,000 students enrolled at Leeds, representing more than 140 different nations. The property encompasses about a hundred acres and exudes an air of globalisation.

University of East Anglia

When researching the best universities for economics in the UK, it’s worth noting that the Norwich University of East Anglia is among the top choices. According to the Complete University Guide 2019, University of East Anglia is the fourteenth-best university in the UK and one of the world’s top two hundred universities.

One can pursue various academic programmes at the School of Economics. A wide variety of Bachelor of Science (BSc) degrees are available in the fields of economics, finance, business, philosophy, politics, and economics. When it comes to bachelor’s degrees, there are also many options. The BSc and BA programmes at East Anglia include optional year-long internships and study-abroad components.

The graduate study possibilities are just as extensive. These are all common choices for MS Economics, Behavioral and Experimental Economics, and Economics and Finance programmes. In addition to economics, other Master’s degrees may include courses in international business, international relations, money, capital markets, and global media.

University of Stirling

Stirling University’s campus is located in central Scotland on the grounds of a castle estate dating back to the 18th century, right next to the waters of Loch Lomond.

A Bachelor of Arts (Honors) in Economics is offered by the University of Stirling’s School of Management. There are a variety of exciting classes spread out over the four years of the programme, including required ones like Microeconomics and Macroeconomics and electives like Accounting and Finance for Managers and Advanced Microeconomics.

And the Economics courses are dedicated to more than just one discipline of economics. Money, banking, finance, behavioural economics, and political economics are all subfields of economics. The institution is committed to generating outstanding outcomes in all of the aforementioned sectors, which are all at the cutting edge of world-class research.

University of Strathclyde

It’s a prestigious university that’s won several honours. They are the only institutions to win the Times Higher Education University of the Year award twice (2012, 2019). They are ranked among the top 10 in economics in the Complete University Guide 2022. Internship and work placement options are available for international students at this prestigious research institution. The university disseminates essential ideas and frameworks for deeper understanding.

The latest worldwide financial crisis makes economics all the more crucial and timely. Economics course topics include banking, interest rates, monetary policy debate, the impact of government spending, and more. Economics seeks to explain the interactions between the various players in an economy, including consumers, businesses, and governments, and to identify the most effective strategies for overcoming market failures.

Over the programme’s four years, students will develop an appreciation for the power of entrepreneurship to affect positive change in the economy and culture.

University of Hertfordshire

This school was ranked 14th in the UK for economics by the Guardian League Table in 2020 and 9th for economics majors’ “Overall Satisfaction” by the 2021 National Student Survey.

However, economics does play a role in influencing the policies of businesses, organizations, and governments. Professionals in the field will be instructing the students.

According to the Graduate Outcomes Survey 2018-19, 85% of Hertfordshire’s economics grads are employed, and their average starting wage is 25,000 pounds. (Graduate Outcomes Survey 2017-2018).

Students who earned degrees from the University of Hertfordshire now work as business development managers, finance managers, financial analysts, financial consultants, and wealth advisors in the public and private sectors.

The institution is the best place for economics students to get a solid education. Its primary focus is helping its students apply what they learn in the classroom to the real business world.

Tuition Fees for Economics in the UK

The cost of tuition for an international student who wants to study economics at a top-ranked UK university ranges from £15,000 to £23,000 per year for undergraduate programmes and from £15,000 to £30,000 per year for postgraduate programmes, depending on the university. The cost of tuition increases with the prestige of the university.

Aside from tuition, the annual cost of living in London can be over £12,000, while outside the city, it can range from £9000 to £10000, depending on the UK city you are attending school in.

Final words

Studying economics in the UK can be an exciting and eye-opening experience. If you enjoy studying history, anthropology, art, and music to help you better understand human behaviour, this is the perfect major for you.

Through large data analysis systems, economics can help governments improve their decision-making; the field of game theory helps economists understand how rational people become irrational, letting lesser-known economists further their research.

Economics courses in the UK have a wide range of applications in the real world and are such a broad subject that it is pretty hard to pin down specific advice that can be given. If you love economics and want to study it, it’s worthwhile.